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In March 25, 1864, First National Bank of Memphis started business in one room in a building on North Court Street in Memphis, Tennessee.Two months later, the bank moved to expanded space at No. 9 Madison Street.

Allen B. Morgan was named president in 1960, chief executive in 1967, and chairman two years later. During Morgan's tenure, First National grew from roughly than $500 million in assets to more than $1.5 billion. Morgan retired in 1973.[1]

The bank is a full-service provider of financial products and services for businesses and consumers. The company utilizes the First Tennessee Bank name in the state of Tennessee, its primary market and where it has dominant market share. Outside Tennessee (with the exception of suburban Memphis within Mississippi and Arkansas, and suburban Chattanooga in Georgia), it utilizes the First Horizon Bank nameplate, the company's official name. First Tennessee is the only major bank headquartered in the state. Until recently, it had expanded into Northern Virginia (2003), Maryland (2003), Georgia and Texas, selling these expansions to be able to concentrate on its core market during the mortgage crisis.

The company, doing business outside Tennessee as First Horizon, had branches in the Atlanta, Dallas-Ft Worth metroplex, Northern Virginia & Baltimore markets. As of 2007, it has begun exiting those markets to return its focus to its core markets in Tennessee.

For the purpose of securities sales, First Tennessee Brokerage (FTBR) is licensed in all U.S. states, except Alaska. For the purpose of investment advisors, FTBR is licensed to do business in the following states: Arkansas, Arizona, California, Delaware, Georgia, Maryland, Michigan, Missouri, North Carolina, Tennessee, Texas, Virginia, and Washington.

For the purpose of insurance sales and services, First Horizon Insurance Services, Inc. (FHIS) is licensed in all U.S. states except Alaska and New Mexico.

FTN Financial is a comprehensive provider of financial products and services for the investment community, offering a full range of products delivered by the integration of five complementary business lines: capital markets, equity research, investment banking, correspondent services, and strategic alliances.

FTN Financial is involved in fixed-income sales and distribution, is also an underwriter of callable agency debt, and a top performer in the overall agency market with maturities of 18 months and longer. FTN Financial has offices in Atlanta, Austin, Baltimore, Boston, Charleston, Chicago, Dallas, Houston, Incline Village NV, Kansas City, Las Vegas, Lisle IL, Los Angeles, Memphis, Miami, Mobile, New York, Philadelphia, Sacramento, San Antonio, San Diego, San Francisco, Scottsdale, St. Louis and Syosset NY, along with FTN Financial Asia Ltd. in Hong Kong.

The company has tended to take emphasis off the word "bank" by eliminating the word from all marketing initiatives and calling its branches "financial centers."

First Tennessee has bought the rights to the title "Official Bank of Beale Street" through a marketing partnership with Performa Entertainment Real Estate Inc. The deal involves dual sponsorship with Pepsi for a two by seven foot LED sign at Handy Park, located on Beale Street. The bank has also placed an ATM at the entrance to the park. Other minor details of the agreement include First Tennessee's right to place signs in Handy Park. The bank will promote some Beale Street events by way of printed advertisement in local financial centers, and will share a link to Beale Street on its website. Financial terms of the marketing venture were not disclosed to the public.[2]

Its logo is a cutout portion of the Tennessee state flag. Though the logo is shared among all three subsidiaries of FHNC, the First Horizon name is virtually nonexistent in Tennessee, and the First Tennessee name is virtually nonexistent outside of Tennessee.